https://www.taxtmi.com/caselaws?id=67808 The Tribunal upheld the CIT (Appeals) decision to delete the disallowances of guarantee commission payments made by the ITO for consecutive assessment years 1971-72 to 1973-74. The Tribunal found the guarantee commissions paid by the assessee to be reasonable under s. 40(C) of the IT Act, considering the financial arrangements made by guarantors and the relationship between turnover and finances. The commissions, along with interest payments, were deemed below market rates, supporting the financial stability of the business. The Revenue's appeals were dismissed, and the disallowances were overturned. en-us Sat, 27 Feb 1982 00:00:00 +0530 Mon, 14 Mar 2011 16:59:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67808 The Tribunal upheld the CIT (Appeals) decision to delete the disallowances of guarantee commission payments made by the ITO for consecutive assessment years 1971-72 to 1973-74. The Tribunal found the guarantee commissions paid by the assessee to be reasonable under s. 40(C) of the IT Act, considering the financial arrangements made by guarantors and the relationship between turnover and finances. The commissions, along with interest payments, were deemed below market rates, supporting the financial stability of the business. The Revenue's appeals were dismissed, and the disallowances were overturned. Case-Laws Income Tax Sat, 27 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67808